Longtime client Merck KGaA has agreed to acquire Minneapolis-based Bio-Techne, a global provider of life science tools, analytical technologies and consumables, for an enterprise value of $11.3 billion, marking Merck KGaA’s largest acquisition in more than a decade.
The acquisition would strengthen Merck KGaA’s multi-omics, spatial biology, cell and gene therapy, precision diagnostics and advanced research tools, while providing Bio-Techne with global reach and manufacturing expertise.
Merck KGaA is a leading science and technology company and the world’s oldest operating chemical and pharmaceutical company. It operates across life science, healthcare and electronics. In 2025, Merck KGaA generated sales of €21.1 billion in 65 countries.
The transaction reflects both the depth of S&C’s relationship with Merck KGaA and the strength of the Firm’s cross-border capabilities. S&C’s German and U.S. teams have worked closely with Merck KGaA over many years, including recently on its SpringWorks acquisition. For this deal, the team once again provided fully integrated U.S. and German law advice, drawing on seamless cooperation across offices, disciplines and jurisdictions.
The cross-border S&C team advising Merck KGaA is led by Matt Hurd, Eric Krautheimer, York Schnorbus, Florian Späth and Michael Fronk. Michael Rosenthal, Sam Hynes and Kolja Ortmann are advising on antitrust matters. Jeannette Bander and Sarah Remmer Long are advising on executive compensation matters. Tessa Lee is advising on tax matters.